Last updated
Average Rent in Minneapolis, MN & Rent Trends
Rent prices and market trends across 25 apartment communities in Minneapolis, MN. Updated daily.
Market Average
$1,577/mo
▲ +0.5% from last month
Lowest Available
$800/mo
cheapest unit on market
Communities
25
tracked daily
Units Listed
122
available now
Rent by Neighborhood in Minneapolis, MN
Compare average rent across Minneapolis, MN neighborhoods. Click any area to see detailed trends.
| Neighborhood | Avg Rent | From | Properties | Units |
|---|---|---|---|---|
| Central Minneapolis | $2,403 | $1,157 | 19 | 281 |
| Ventura Village | $1,996 | $1,220 | 3 | 60 |
| Minneapolis 55403 | $1,992 | $1,480 | 1 | 10 |
| Minneapolis 55415 | $1,966 | $800 | 8 | 87 |
| Southwest Minneapolis | $1,863 | $1,315 | 1 | 31 |
| Marcy-Holmes | $1,806 | $1,015 | 4 | 50 |
| Beltrami | $1,751 | $1,333 | 2 | 21 |
Is Rent Going Up or Down in Minneapolis, MN?
As of May 2026, the average rent in Minneapolis, MN is $1,577 per month across 25 apartment communities and 122 available units. Rents have increased $11 (0.5%) over the past month.
The most affordable option is East Town Apartments starting at $800/mo. By unit type, a studio averages $1,577/mo.
Prices range from $800 to $2,845 per month. The most common price point is the $1,400 range, where 40 units are currently listed.
Minneapolis, MN Rent Price History
Rent Price Distribution
Rent by Bedroom Type in Minneapolis, MN
Rent Prices by Apartment in Minneapolis, MN
| Property | Starting at | Average | Units | Rating |
|---|---|---|---|---|
| East Town Apartments | $800/mo | $854/mo | 4 | 3.9 |
| East River Terrace | $1,015/mo | $1,015/mo | 1 | 3.4 |
| NoLo Living - NoLo South | $1,157/mo | $1,271/mo | 5 | 4 |
| The Larking | $1,220/mo | $1,480/mo | 14 | 4.6 |
| Hencen Apartments | $1,247/mo | $1,321/mo | 7 | 4.3 |
| Inspire | $1,315/mo | $1,364/mo | 6 | 3.7 |
| Tyler Street Stacks | $1,333/mo | $1,448/mo | 5 | 4.6 |
Google Search Trends for Minneapolis, MN Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
Frequently Asked Questions About Rent in Minneapolis, MN
What is the average rent in Minneapolis, MN?
Is rent going up or down in Minneapolis, MN?
What is the cheapest apartment in Minneapolis, MN?
How many apartments are available in Minneapolis, MN?
What salary do I need to live comfortably in Minneapolis, MN?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$63,000/year
30 percent rule -- using our average rent of $1,577/mo.
Comfortable income
$76,000/year
25 percent rule -- leaves more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($800/mo), you need to earn at least $32,000/year.
Median household income in Minneapolis, MN is $80,269 , about 6% above the comfortable-living threshold.
Cost of living in Minneapolis, MN
Overall prices in Minneapolis, MN runs above the national average by about 4% (BEA Regional Price Parity index 104.3, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Minneapolis, MN's regional price parities.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $1,577 |
| Utilities | $474 |
| Groceries | $565 |
| Transportation | $1,131 |
| Healthcare | $552 |
| Other goods and services | $882 |
| Estimated total | $5,181/mo |
Population
426,845
Median household income
$80,269
Census median rent
$1,329/mo
Rent as % of income
28.7%
Median age
33.0
Mean commute
23 min
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures were last published in 2023.
Explore Minneapolis, MN Apartments
Browse all 25 communities with daily-updated pricing and availability.